Stocks are in the red. What that means for you, depending on your age
The ups and downs in the stock market provide a good opportunity for you to check in with your personal timeline and financial goals.Traders work during the opening bell at the New York Stock Exchange on March 5, 2020.It may feel that much of our lives are on pause during the pandemic. But not the stock market. Especially over the last few days.. The Nasdaq is down more than 8% over the last two days. And stocks continued to tumble on Friday.
The good news is that most investors don't need to get too worked up by the market's direction on any given day. What's more important is your own path. "If you have 40 years left to invest, a bear market right now is just noise and should be ignored — in fact, often celebrated," said Doug Bellfy, a certified financial planner at Synergy Financial Planning in South Glastonbury, Connecticut.
If you're a young investor, your rate of return typically matters less than your savings rate, said James Sweeney, a certified financial planner and founder of Switchpoint Financial Planning in Lehi, Utah.
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